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# Spotify Stock Below IPO Day Price, $6.7B Off Peak Valuation
- URL: https://www.hypebot.com/spotify-stock-below-ipo-day-price-67b-off-peak-valuation/
- Published: 2018-10-25T16:47:54.000Z
- Updated: 2018-10-25T16:47:54.000Z
- Description: Spotify stock is continuing to struggle, closing Thursday at $148.96 and just below its $198.99 per share peak just three months ago. That leaves the streamer with a $26.31 billion market. Continue reading [https://www.hypebot.com/hypebot/2018/10/spotify-stock-below-ipo-day-price-67b-off-peak-valua
- Author: Bruce Houghton
- Tags: Music Business, Music Tech, Streaming, Spotify, stock, #wp, #wp-post, #Import 2026-01-21 10:00

[![Spotify$](https://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad3bb5b5f200b-150wi "Spotify$")](https://hypebot.typepad.com/.a/6a00d83451b36c69e2022ad3bb5b5f200b-popup?ref=hypebot.com)Spotify stock is continuing to struggle, closing Thursday at $148.96 and just below its $198.99 per share peak just three months ago. That leaves the streamer with a $26.31 billion market cap, down $6.7 billion from a $33 billion peak summer valuation. The stock slipped as low as $146.01 in after hours trading.But Morgan Stanley's Benjamin Swinburne maintains his Overweight rating of Spotify with an unchanged $225 price target. His bullish case for Spotify's stock is based on the potential size of the global market for streaming music, according to financial site [Benzinga](https://www.benzinga.com/analyst-ratings/analyst-color/18/10/12556568/spotifys-recent-weakness-doesnt-change-morgan-stanleys-?ref=hypebot.com). "Morgan Stanley's $225 price target is based on a 4-4.5 times forward revenue multiple and 15.5 forward gross profit. Both multiples represent a discount compared to Netflix."